I. Description
Electronic commercial draft discounting refers to the business act of a corporate bearer transferring via online banking its legitimately acquired undue electronic commercial drafts with true transactions, in the form of full endorsement, to ICBC discounting acceptance institutions, and the Bank, after charging a certain interest, paying the agreed amount to the bearer.

II. Target Customers
Business entities and other profit-making organizations holding electronic commercial drafts and with short-term financing needs.

III. Features and Advantages
i. Electronic commercial draft discounting can reduce an enterprise’s bills receivable, instantly convert them into cash assets, enhance the asset liquidity, and optimize the structure of financial statements;
ii. It can provide additional financing channels for enterprises, speed up their capital turnover, thus enhancing the efficiency of capital utilization;
iii. It may vitalize an enterprise’s existing assets, reduce related financial expenses such as interest expense, enhance the assets utilization ratio, and reduce the financing costs;
iv. It can shorten the transit time of commercial drafts and funds, reduce transaction costs, and enhance payment efficiency.
v. Easy procedures, and practical and efficient financing meet the enterprises’ demands for quick availability of funds.

IV. Conditions
i. The original and a photocopy of the applicant’s business license; for enterprises whose business license, organization code certificate and tax registration certificate are not incorporated into one, the original and a photocopy of tax registration certificate shall be provided additionally;
ii. The original of the handler’s identification card, and the photocopies of the handler’s and the legal representative’s identification cards;
iii. A power of attorney authorizing the handler to handle the business (stamped with the official seal and signed/stamped by the agent);
iv. Discount Agreement in the prescribed form (completely filled out, affixed with official seal or contract seal, the personal seal or signature of the legal representative or the authorized agent);
v. Other documents required by ICBC discounting acceptance institutions.

Note: The information on the page is for reference only. Specific businesses are subject to announcements and regulations of local outlets.